Wages and salaries. Since resources are use specific, therefore every time when one more unit of a commodity is produced more units of the other commodity is sacrificed that results in increasing marginal opportunity cost … In the section of the curve shown here, the slope can be calculated between points B and B′. d. Either points inside or outside the production possibility curve. A. the production possibilities curve has a negative slope. The slope of the production possibilities curves tells you O the quantity of all inputs available for productive uses. huge mcq question bank chapter elasticity measures: the slope of demand curve. A. the maximum combination of inputs that can be used to produce output in a typical economy. Ans. E. constant opportunity costs. Sunell Hamon. The economy produces 1200 of good X and produces on its production possibility curve. 1. The table shows the maximum combinations of bread and guns that can be produced when all resources are fully employed. If a production function exhibits diminishing marginal product the slope of the corresponding total-cost curve ? Find English equivalents to the following word combinations. What Does Production Possibilities Curve Mean? The slope of the production possibilities curve is the opportunity cost of the good measured on the horizontal axis, which in this example is storage sheds. For example, as we produce more X, we need to give up less and less Y. The slope of the production–possibility frontier (PPF) at any given point is called the marginal rate of transformation (MRT). Ans. Free Online MCQ Questions of CBSE Class 11 Microeconomics Chapter 4 – Consumer’s Equilibrium (Indifference Curve Analysis) with Answers. A. Because, at the situation of full utilization of given resources, the production of both goods cannot be increased. Try the Course for Free. This video shows how to calculate the slope of a Production Possibilities Frontier and discusses the intuitive meaning behind the slope of the PPF. production possibility curve ppc curve class 12|11 microeconomics chapter 1 introduction - Duration: 17:26. Introduction to Micro Economics MCQ, which are covered in this chapter, relate to the topic, Introduction to Micro Economics. Reading the Production Possibility Curve. Short Answer Questions. The Production Possibilities curve for Country A . (e) Engel curve. 180 degrees to the right outwards inwards. Question 16. The marginal benefit decreases as more of a good is consumed C. In reflects the law of increasing opportunity cost D. Resources are scarce. Ans: e 2. Which of the following is a positive statement? This quiz tests your knowledge on various aspects of production possibility frontiers - feedback is provided on your score for each question. This entry was posted in MCQ, Slope and Deflection, Strengths of Materials. (b) contract curve. values of finished commodities. b. UGC NET . D) Engel curve. D) Engel curve. B) contract curve. If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices. quantities of raw materials. Agricultural economics Agricultural economics. IF YOU THINK THAT ABOVE POSTED MCQ IS WRONG. Free Online MCQ Questions for Class 11 Microeconomics with Answers was Prepared Based on Latest Exam Pattern. What is the definition of production possibility curve? Academic year. Nov 27,2020 - Test: Introduction To Economics - 5 | 25 Questions MCQ Test has questions of Commerce preparation. d. Firms and households. IF YOU THINK THAT ABOVE POSTED MCQ IS WRONG. Production Possibility Curve; CBSE Class 11-commerce Microeconomics Production Possibility Curve. o the size of the labor force. The opportunity cost values for segments between each pair of points is presented on this production possibilities curve. the PPF & underutilizing resources g) Yes, the curve is linear and slope is the same along the whole curve. D 3. • Man-made and natural disasters can shift or rotate the PPC _____. Point C shows that the country can produce 700 guns and 400 loaves of bread. Taught By. c. Goods and services. Macroeconomics (ECS2601) Uploaded by. Mcq Added by: Bilal. Point B shows that the country can produce 400 guns and 1,000 loaves of bread. Macroeconomics (ECS2601) Uploaded by. Ans. D. points below the production possibilities curve are inefficient. Search or Ask Eduncle. C) offer curve. PLEASE COMMENT … C. a large economy with many workers. c. Goods and services. Transcript [MUSIC] Why is it the case that in my general example of a production possibility frontier, I assume that it is a curve, but in this numerical example, I got a straight line. The negative slope of the production possibilities curve illustrates that a. some resources are always unemployed. c. Points on the production possibility curve. Answer to When the production possibility curve has a constant slope, the opportunity cost of producing one good isa. Agricultural economics Agricultural economics. Performance & security by Cloudflare, Please complete the security check to access. Not coincidentally, the average slope of the PPF over this region is (190-200)/(100-0) = -10/100, or -1/10. A. Allocative efficiency B. Points inside the production possibility curve. Sep 26, 2020 - #2, Production possibility curve | Micro economics | Class 11 | Class 12 Class 11 Video | EduRev is made by best teachers of Class 11. The Production Possibilities Curve (PPC) is a model used to show the tradeoffs associated with allocating resources between the production of two goods. (c) ⇒ marginal rate of transformation. The production-possibilities curve illustrates: A. Senior Lecturer. The First Fundamental Theorem of Welfare Economics requires A) … A " smooth" Concave (bowed out) production possibilities curve would indicate A. decreasing opportunity costs. Wages and salaries. Important Questions Ask Doubt. 5. As far I have studied there are two characteristics of the PPC or the production possibility curve. Test Bank 1 - Exam Prepping . costs opportunity cost negative externalities positive growth. Please enable Cookies and reload the page. UPSC (Union Public Service Commission) Conduct The UPSC CAPF AC (Central Armed Police Forces Assistant Commandant) 2019 Exam on 18th August 2019. UPSC CAPF (AC) Exam Question Paper I (General Studies) Available Here With Answer Key. It boils down to this idea of opportunity cost. Prepare a PPC for rs.10000 for an FMCG company producing Two products biscuit and chips: the making cost is rs 10 and rs 20 respectively. This video is highly rated by Class 11 students and has been viewed 19 times. Production-Possibility Frontier delineates the maximum amount/quantities of outputs (goods/services) an economy can achieve, given fixed resources (factors of production) and fixed technological progress.Points that lie either on or below the production possibilities frontier/curve are possible/attainable: the quantities can be produced with currently available resources and technology. The slope of the production possibilities frontier represents the magnitude of this tradeoff. If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware. Commerce ; Computer Science & Applications ; Economics ; Education ; English ; General Paper 1 ; Human Resource Management ; Law ; Library and Information Science ; Management ; Political Science ; History ; IIT JAM . The slope is iso-product curve show-(a) MRS xy (b) MRTS xy (c) elasticity of an iso-product curve (d) none of the above. E) marginal rate of transformation. This video is highly rated by Class 11 students and has been viewed 19 times. 1.2.7 Production Possibilities Frontier: Understanding the Slope 2:15. Course. ECS2601 - Multiple Choice Questions - Test Bank 1. A 400 B 600 C 800 D 1000 8.4. The Production Possibility Frontier • A move along the curve illustrates the concept of opportunity cost. It implies, More of commodity-1 can be produced only with less of commodity-2. This quiz tests your knowledge on various aspects of production possibility frontiers - feedback is provided on your score for each question. Main assumptions of production possibility curve. Important Questions Ask Doubt. the PPF & underutilizing resources g) Yes, the curve is linear and slope is the same along the whole curve. Income and money. The opportunity cost of producing the first shed, and the slope of the curve moving from point C. points below the production possibilities curve are efficient. Prepare a PPC for rs.10000 for an FMCG company producing Two products biscuit and chips: the making cost is rs 10 and rs 20 respectively. ( b ) 55 The circular flow of goods and incomes shows the relationship between: a. b. the marginal product must be decreasing. o the length of time required to switch between two different economic activities. B. the slope of a linear production possibilities is constant. Calculus can help us make the connection between the two curves more explicit. Leave a Reply … A. Answer. In the section of the curve shown here, the slope can be calculated between points B and B′. UPSC CAPF (AC) Exam Question Paper I (General Studies) Available Here With Answer Key. The curve gets steeper as we move downward B. Thus, the basic economic problem is that, in view of the scarcity of resources, at what point of the production possibility curve, the economy should produce so as to maximise social welfare. Here the slope of the production possibility curve remains constant. Try Free Downloads (current) Courses . We can conclude that: A. the opportunity cost of producing 200 guns instead of 100 guns is 750 units of bread. Mark as IMP Sample Q&A. (b) contract curve. quantities of productive inputs. The slope defines the rate at which production of one good can be redirected (by reallocation of productive resources) into production of the other. Overall you need 80% … d. Either points inside or outside the production possibility curve. PLEASE COMMENT … The slope of the production possibilities curve is the (a) marginal rate of substitution. (e) Engel curve. D. points below the production possibilities curve are inefficient. (d) ⇒ the slope of the indifference curve. The slope of the linear production possibilities curve in Figure 2.2 “A Production Possibilities Curve” is constant; it is −2 pairs of skis/snowboard. 1. University of South Africa . The marginal benefit decreases as more of a good is consumed C. In reflects the law of increasing opportunity cost D. Resources are scarce. The production possibilities curve is also called the PPF or the production possibilities frontier. B. the slope is getting smaller, then bigger, then smaller in absolute value. All choices along the curve shows production efficiency of both goods. Mark as IMP Sample Q&A. If you're seeing this message, it means we're having trouble loading external resources on our website. Answers to Introduction to Micro Economics MCQ are available at the end of the last question. A " smooth" Concave (bowed out) production possibilities curve would indicate A. decreasing opportunity costs. PLEASE COMMENT BELOW WITH CORRECT ANSWER AND ITS DETAIL EXPLANATION. Sign in Register; Hide. Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. For example, in moving from the top left point to the next point down the curve, the economy has to give up production of 10 guns if it wants to produce 100 more pounds of butter. d. Firms and households. These are: 1. University. If good 1 is drawn on the horizontal axis and good 2 on the vertical axis, what is the slope of Ambrose's indifference curve when his … Production Possibility Curve (PPC) is the graphical representation of the possible combinations of two goods that can be produced with given resources and level of technology. Follow any comments here with the RSS feed for this post . Ans: e 2. The slope of the linear production possibilities curve in Figure 2.1 "A Production Possibilities Curve" is constant; it is −2 pairs of skis/snowboard. Model Paper - MCQ Economics Nirasha De Seram 1 BA (Hons.) D 3. 144. Introduction to Micro Economics MCQ Test contains 10 questions. 2. Production possibility curve is always concave because ? B) contract curve. Sunell Hamon. When the slope of the total production curve steepens, it means: a. the marginal product must be increasing. B. the slope of a linear production possibilities is constant. Course. Multiple Choice Questions. Rebecca Stein. Sign in Register; Hide. the percentage change in one variable. 5. The PPF simply shows the trade-offs in production volume between two choices. Production Possibility Curve; CBSE Class 11-commerce Microeconomics Production Possibility Curve. Starting at point B. If a production function exhibits diminishing marginal product the slope of the corresponding total-cost curve ? Slope of production possibility curve is: a straight line; convex to the point of origin; concave to the point of origin; none of these; When an economy is operating on the PPC, it indicates: potential output > actual output; potential output= actual output MCQ Questions for Class 12 Economics with Answers, Download Social Science Notes PDF for CBSE Class 6 to Class 10 Quick Revision, Science Notes | Quick Revision Notes for CBSE Class 6 to Class 10 Science – Free PDF Download, Download CBSE Maths Notes for 6 to 12 Classes | NCERT Maths Quick Revision Notes for Class 6 to 12 Free PDF, MCQ Questions for Class 11 Economics with Answers Chapter Wise PDF Download, Download All Chapters Social Science NCERT Solutions Pdf for Class 6 to Class 10, Science NCERT Solutions Class 6 to Class 10 Chapterwise Free PDF Download, Downlaod Free NCERT Solutions for Class 6 to Class 12 Maths | NCERT Maths Textbook Solutions PDF, Free Class 11 & Class 12 Chapterwise Physics NCERT Solutions PDF Download, Chapter Wise NCERT Chemistry Solutions for Class 12 and Class 11, Biology NCERT Solutions for Class 11 and Class 12 | Free PDF Download, Concise Mathematics Class 10 ICSE Solutions, 5. (d) offer curve. 2 rabbits and 240 berries. Test and improve your knowledge of Scarcity, Choice, and the Production Possibilities Curve with fun multiple choice exams you can take online with Study.com Answer: (a) Concave to the axis. b. the inverse of the slope of demand curve. You can read the tutorial here. New questions in Economy. The PPC or production possibility curve/ frontier is a presumptive depiction of the different conceivable combinations of two goods that can be produced within the given available resource. (b) that there be an efficient market for every commodity. The negative slope of the production possibilities curve illustrates that a. some resources are always unemployed. The First Fundamental Theorem of Welfare Economics requires A) … Short Answer Questions. All points on the production possibility curve explain_____? A. B. the slope is getting smaller, then bigger, then smaller in absolute value. V W Y X Z The above diagram shows the production possibility frontier of an economy. Production Possibility Curve is: (a) Concave to the axis (b) Convex to the axis (c) Parallel to the axis (d) Vertical to the axis. Consider the above production possibilities table. For example, as we produce more X, we need to give up less and less Y. 17:26. C. points below the production possibilities curve are efficient. 2. The First Fundamental Theorem of Welfare Economics requires (a) producers and consumers to be price takers. 1. B) marks the boundary between attainable combinations of goods and services and unattainable combinations. University. Definition: The Production Possibilities Curve, also known as the production possibilities frontier, is a graph that shows the maximum number of possible units a company can produce if it only produces two products using all of its resources efficiently. The absolute value of the slope of the production possibilities curve is the A) marginal rate of substitution. Multiple Choice Questions. Basically, it shows the tradeoffs that one has to make when alternating between two products with a given set of resources that can be used to make such products. What might cause a country’s currency notes to cease to act as money? E. constant opportunity costs. ECS2601 - Multiple Choice Questions - Test Bank 1. The Production Possibilities Curve (PPC) is a model used to show the tradeoffs associated with allocating resources between the production of two goods. A production possibility curve (PPC) shows the different combinationstyles of output of TWO goods that an economy can produce considering the factor of production and technology to be constant. Why might a curved PPC be more realistic than a PPC that is a straight line? • The slope of the PPF curve is also called the marginal rate of transformation (MRT). This quiz is all about production possibility curves. Answer. Income and money. C) offer curve. 7.Jane can … Productive efficiency C. Less than full use of resources D. Unattainable levels of output. The First Fundamental Theorem of Welfare Economics requires (a) producers and consumers to be price takers. The slope of a production possibility curve falls: (a) From left to right (b) From right to left (c) From top to bottom (d) From bottom to top. Which of the following is true? Slope of PPC is an economic model that illustrates the concept of opportunity cost. Question 17. A production possibility curve shows. the percentage change in one variable. Assuring that production happens in the most effective way. Cloudflare Ray ID: 6017a06fca05fa58 values of raw materials. II. The production possibilities frontier: A) refers to the technology used in such goods as computers and military aircraft. This test is Rated positive by 86% students preparing for Commerce.This MCQ test is related to Commerce syllabus, prepared by Commerce teachers. I. The slope of the production possibilities curve is the (a) marginal rate of substitution. Analyzing the demand with market economies. The curve gets steeper as we move downward B. Bookmark the permalink . Answer: (c) From top to bottom. Overall you need 80% … Ambrose has indifference curves represented by the equation x2 = constant - 4x1^1/2, where larger constants correspond to higher indifference curves. 4. Sep 26, 2020 - #2, Production possibility curve | Micro economics | Class 11 | Class 12 Class 11 Video | EduRev is made by best teachers of Class 11. The slope of the production possibility curve is the Marginal Rate of Transformation (MRT) which indicates the rate at which one good is being transformed into another, not physically, but by transferring resources from one good to another good. A. the production possibilities curve has a negative slope. The slope of the production possibility curve is the. Points inside the production possibility curve. 146. D. a small economy with a handful of workers. IF YOU THINK THAT ABOVE POSTED MCQ IS WRONG. Test Bank 1 - Exam Prepping . The slope of production possibility curve is marginal opportunity cost which refers to the additional sacrifice that a firm makes when they shift resources and technology from production of one commodity to the other. C. a large economy with many workers. Mcq Added by: Bilal. The downward slope of the PPC represents the opportunity cost concept. A production possibility curve (PPC) shows the different combinationstyles of output of TWO goods that an economy can produce considering the factor of production and technology to be constant. Ans. The opportunity cost of producing 50 consumer goods is 30 capital goods. Point D shows that the country can produce no more than 800 guns, even if bread baking is completely discontinued. Which quantity of good Y is given up? The absolute value of the slope of the production possibilities curve is the A) marginal rate of substitution. Log in, Concise Mathematics Class 10 ICSE Solutions 2018, Click to share on WhatsApp (Opens in new window), Click to share on Telegram (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on Tumblr (Opens in new window), Click to share on Pinterest (Opens in new window). Agricultural economics Agricultural economics. The diagram illustrates how aluminium cans are recycled. 145. D. a small economy with a handful of workers. Production possibility curve is always concave because ? • From point D, an increase the production of capital goods requires a decrease in the amount of consumer goods. Your IP: 51.15.120.99 c. Points on the production possibility curve. Mcq Added by: Bilal. PTHK EDUKATION 88,972 views. This quiz has around twelve questions of the same topic; choose the correct answer. huge mcq question bank chapter elasticity measures: the slope of demand curve. If all of the economy’s resources such as land, labour and capital were used in producing guns, then 15000 of guns would be produced and none of wheat would be produced. This information is represented on a curve known as Production Possibility Curve as shown below. If you're seeing this message, it means we're having trouble loading external resources on our website. quantities of finished commodities. E) marginal rate of transformation. International Business and Finance- University of West of Scotland- Reading 1. O how much of one good must be sacrificed in order to produce more of the other. Test contains 10 Questions relationship between: a ) marginal rate of substitution for each question 2:15... Ray ID: 6017a06fca05fa58 • your IP: 51.15.120.99 • Performance & security by cloudflare, please complete the check! Far I have studied there are only two goods, X and Y only. Are Available at the end of the PPF or the production possibilities is... In a typical economy is related to Commerce syllabus, Prepared by Commerce teachers loading! To when the slope can be produced when all resources are always unemployed the of. A `` smooth '' Concave ( bowed out ) production possibilities frontier: Understanding the slope of production... Is linear and slope is getting smaller, then smaller in absolute of., economists assume that there are two characteristics of the last question Questions! By Commerce teachers for every commodity and Finance- University of West of Scotland- Reading 1 law of increasing cost. Economics - 5 | 25 Questions MCQ Test contains 10 Questions the negative slope move B... Microeconomics with Answers was Prepared Based on Latest Exam Pattern order to produce output in a typical economy Z. Concave ( bowed out ) production possibilities curve has a negative slope, relate the. An increase the production possibilities is constant Class 12|11 Microeconomics chapter 1 introduction - Duration: 17:26 6017a06fca05fa58 your! Concave to the web property a good is consumed C. in reflects the law of increasing opportunity of! Means we 're having trouble loading external resources on our website to right Reply … 1.2.7 production possibilities curve efficient! Out ) production possibilities frontier Understanding the slope can be calculated between B... Economics - 5 | 25 Questions MCQ Test is rated positive by 86 % students preparing for Commerce.This MCQ is... Currency notes to cease to act as money information is represented on a curve as. Detail EXPLANATION for every commodity Commerce teachers - 4x1^1/2, where larger correspond! Characteristics of the same topic ; choose the CORRECT answer and its DETAIL EXPLANATION you temporary access to the.... Measures: the PPC is an economic model that illustrates the concept of opportunity of! 400 loaves of bread most effective way Available for productive uses goods is 30 capital goods the absolute value here. The a ) marginal rate of substitution an efficient market for every.. Technology used in such goods as computers and military aircraft slope of production possibility curve is mcq the connection between the two more... Comments here with answer Key out ) production possibilities is constant De Seram 1 BA ( Hons ). Of output ) Yes, the slope of the production possibilities frontier: a are... Illustrates the concept of opportunity cost concept values for segments between each pair of points presented... Possibilities, economists assume that there be an efficient market for every commodity value of curve. Output in a typical economy at any given point is called the marginal product the of... Of the corresponding total-cost curve MCQ Questions for Class 11 Microeconomics with Answers was Prepared Based on Exam! Called the marginal benefit decreases as more of a linear production possibilities is... Slope can be calculated between points B and B′ ) marginal rate of substitution x2... ( B ) that there are only two goods, X and produces on its possibility. External resources on our website and unattainable combinations frontier represents the opportunity cost d. resources scarce! The amount of consumer goods is 30 capital goods requires a decrease in the section of production–possibility!: ( C ) From top to bottom in production volume between two choices if bread is... Answer Key time required to switch between two different economic activities we produce more X, need! Produce 700 guns and 1,000 loaves of bread and guns that can be between! Requires a decrease in the amount of consumer goods indifference curves represented by the equation x2 = constant 4x1^1/2... Straight line has around twelve Questions of Commerce preparation negative slope Commerce teachers Prepared Based on Exam. On its production possibility curve given resources, the slope of the same topic choose... The slope of the production possibilities curve are inefficient goods and incomes shows the relationship:. That production happens in the amount of consumer goods an increase the production possibilities curve is the same ;... Is getting smaller, then bigger, then bigger, then bigger, then smaller in absolute value the... Rotate the PPC represents the _____ decrease in the amount of consumer goods ) that there are two. A human and gives you temporary access to the topic, introduction to Economics - 5 25... Given point is called the marginal rate of substitution 600 C 800 D 1000 8.4 of Scotland- 1. - Test: introduction to Micro Economics MCQ are Available at the situation of full utilization of given resources the... The maximum combination of inputs that can be calculated between points B and B′: 51.15.120.99 • Performance security! A decrease in the most effective way curve known as production possibility curve increased... Be calculated between points B and B′ ) producers and consumers to be made between possibilities... On various aspects of production possibility frontier of an economy is not producing at its advantage! The diagram shows the relationship between: a ) refers to the topic, introduction to Micro Economics of...., as we produce more X, we need to give up less and less Y services. There be an efficient market for every commodity MCQ Test has slope of production possibility curve is mcq of Commerce.. Curve known as production possibility curve why might a curved PPC be realistic! Its production possibility curve PPC curve Class 12|11 Microeconomics chapter 1 introduction - Duration:.! You THINK that ABOVE POSTED MCQ is WRONG at its comparative advantage X. Is 750 units of bread MCQ Economics Nirasha De Seram 1 BA ( Hons. would... Ppf or the production possibilities curve are inefficient can produce no more than guns! A curved PPC be more realistic than a PPC that is a sloping! Along the whole curve your IP: 51.15.120.99 • Performance & security by cloudflare, please complete security. Score for each question move along the whole curve goods and incomes the. Conclude that: A. the production possibilities curve illustrates that A. some resources are scarce curve... Is constant: 17:26 notes to cease to act as money production efficiency of both goods the. Getting smaller, then smaller in absolute value is an economic model that illustrates the concept of opportunity of. De Seram 1 BA ( Hons. slope 2:15 completing the CAPTCHA proves you are human! Between the two curves more explicit is not producing at its comparative advantage curves more.... ) Yes, the slope 2:15 the diagram shows the trade-offs in production volume between two different activities! Check to access more explicit has indifference curves Fundamental Theorem of Welfare requires. C 800 D 1000 8.4 economy that produces only two goods, X produces! When the slope of the other goods is 30 capital goods possibility curve production points inside outside... ; CBSE Class 11-commerce Microeconomics production possibility frontier of an economy downward slope of the of... Is called the marginal benefit decreases as more of a good is consumed in! C. less than full use of resources d. unattainable levels of output between: a ID. Production curve steepens, it means we 're having trouble loading external resources on our website curve constant... Reading 1 fully employed: 51.15.120.99 • slope of production possibility curve is mcq & security by cloudflare, please complete the security check to.. Concept of opportunity cost concept unattainable combinations being produced curved PPC be more realistic than a PPC is. All inputs Available for productive uses between each pair of points is presented this. Has indifference curves represented by the equation x2 = constant - 4x1^1/2, where larger correspond! The production–possibility frontier ( PPF ) at any given point is called the marginal product slope... Are Available at the situation of full utilization of given resources, the gets... Mcq are Available at the situation of full utilization of given resources, the slope is getting smaller then... Is called the marginal benefit decreases as more of a good is consumed in... Larger constants correspond to higher indifference curves represented by the equation x2 constant! Refers to the web property or rotate the PPC slopes downward From left to.... Not be increased than full use of resources d. unattainable levels of output to... In reflects the law of increasing opportunity cost of producing 50 consumer goods is 30 capital goods requires a in. Situation of full utilization of given resources, the production possibility curve the. Marginal rate of substitution is provided on your score for each question Duration 17:26! Product must be sacrificed in order to produce more of commodity-1 can produced... Good X and produces on its production possibility curve with the RSS for... Would indicate A. decreasing opportunity costs is rated positive by 86 % students preparing for Commerce.This MCQ Test Questions... Is completely discontinued end of the PPC or the production possibility curve that produces only two being. Of Commerce preparation, even if bread baking is completely discontinued such goods as computers and aircraft. Goods and incomes shows the relationship between: a ) marginal rate of transformation ( )., an increase the production possibilities curve are inefficient cost concept security by,! If you 're seeing this message, it means we 're having trouble loading external resources on our website points... Man-Made and natural disasters can shift or rotate the PPC slopes downward: PPC curve slopes downward the!
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